Smartphones within the price range of $120 to $240 have taken a significant position in the Indian market, covering over 40 percent of the total market share, as reported by Infinix India CEO Anish Kapoor.

The surge in demand for 5G-capable smartphones has notably risen recently, with devices priced between $120 and $240 experiencing a higher demand compared to those under $120, which previously dominated the market.

The past stagnation observed in the market for the last two years has shifted, allowing the market to recommence its growth pattern, commented Kapoor during the launch event of the new Note 40X 5G in Lucknow on Thursday.

'Previously, phones priced below $120 were the market leaders in India, capturing around 35 to 40 percent of the market share. Currently, the majority of the market has transitioned to phones priced between $120 to $240, holding nearly 43 percent,' Kapoor elaborated to PTI.

This shift highlights a significant change in consumer preferences towards higher-priced models, indicating a maturation in the Indian smartphone market.

Such a transition underscores the evolving landscape of the Indian smartphone market, where higher-priced models are becoming more desirable amongst consumers.

This changing trend is attributed to the increasing desires for advanced features and better technology among users, reflecting a more discerning consumer base.